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Al-Ittihad Schools Q2 profit climbs 86.2% YOY

Al-Ittihad Schools Co. said its normalized net income for the second quarter came to 222,320 dinars, an increase of 86.2% from 119,380 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 12.6% from 7.5% in the year-earlier period.

Total revenue climbed 10.0% on an annual basis to 1.8 million dinars from 1.6 million dinars, and total operating expenses fell on an annual basis to 1.3 million dinars from 1.3 million dinars.

Reported net income rose 73.9% on an annual basis to 285,590 dinars, or 2 fils per share, from 164,270 dinars, or 1 fils per share.

As of July 27, US$1 was equivalent to 71 Jordanian fils.